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India’s Safari Bikes to Invest US$4.4 mn

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NEW DELHI, India (February 6th) – Bicycle maker Safari Bikes on Thursday said it plans to invest in its manufacturing unit to expand capacity and soon sign a technological agreement with a European bicycle manufacturer. “We plan to pump (US$4.42 million) in the Ludhiana plant to increase the capacity. We are in the final stage […]

NEW DELHI, India (February 6th) – Bicycle maker Safari Bikes on Thursday said it plans to invest in its manufacturing unit to expand capacity and soon sign a technological agreement with a European bicycle manufacturer.
“We plan to pump (US$4.42 million) in the Ludhiana plant to increase the capacity. We are in the final stage of signing a technological tie-up with a major manufacturing company in Europe to make high-end bicycles,” its chairman R D Sharma said in a statement. The company, which was set up in 1994, sells the ‘Hi-Bird’ range of bicycles in the domestic market and exports sports and other engineering products apart from bicycles to South Africa and Europe. The company has recently bagged an export order from Rwanda to supply 32,000 bicycles.(MH)

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